Avalon Advanced Materials Adopts Shareholder Rights Plan
Avalon Advanced Materials (TSX: AVL, OTCQB: AVLNF) has announced the adoption of a shareholder rights plan effective April 8, 2025. The plan, approved by the Board of Directors, aims to ensure fair treatment of shareholders during unsolicited take-over bids and protect against 'creeping bids' that involve accumulating over 20% of company shares through exempt purchases.
Under the plan, one right will be issued per common share. If rights become exercisable, holders (excluding the acquiring person and related parties) can purchase additional company shares at a 50% discount to the current market price. The Rights Plan requires shareholder ratification within six months of its effective date and has received conditional approval from the Toronto Stock Exchange.
Avalon Advanced Materials (TSX: AVL, OTCQB: AVLNF) ha annunciato l'adozione di un piano per i diritti degli azionisti con effetto dall'8 aprile 2025. Il piano, approvato dal Consiglio di Amministrazione, mira a garantire un trattamento equo degli azionisti durante offerte pubbliche di acquisto non richieste e a proteggere contro le 'offerte striscianti' che comportano l'accumulo di oltre il 20% delle azioni della società tramite acquisti esenti.
Secondo il piano, verrà emesso un diritto per ogni azione ordinaria. Se i diritti diventano esercitabili, i titolari (escludendo la persona acquisitrice e le parti correlate) possono acquistare ulteriori azioni della società con uno sconto del 50% rispetto al prezzo di mercato attuale. Il Piano dei Diritti richiede la ratifica degli azionisti entro sei mesi dalla sua data di entrata in vigore e ha ricevuto approvazione condizionata dalla Borsa di Toronto.
Avalon Advanced Materials (TSX: AVL, OTCQB: AVLNF) ha anunciado la adopción de un plan de derechos de los accionistas con efecto a partir del 8 de abril de 2025. El plan, aprobado por la Junta Directiva, tiene como objetivo garantizar un trato justo a los accionistas durante ofertas de adquisición no solicitadas y proteger contra las 'ofertas encubiertas' que implican acumular más del 20% de las acciones de la empresa a través de compras exentas.
Bajo el plan, se emitirá un derecho por cada acción ordinaria. Si los derechos se vuelven ejercitables, los titulares (excluyendo a la persona adquirente y a las partes relacionadas) podrán comprar acciones adicionales de la empresa con un descuento del 50% sobre el precio de mercado actual. El Plan de Derechos requiere la ratificación de los accionistas dentro de los seis meses posteriores a su fecha de entrada en vigor y ha recibido aprobación condicional de la Bolsa de Valores de Toronto.
아발론 고급 자재 (TSX: AVL, OTCQB: AVLNF)는 2025년 4월 8일부터 발효되는 주주 권리 계획의 채택을 발표했습니다. 이 계획은 이사회에서 승인되었으며, 비청구 인수 제안 동안 주주에 대한 공정한 대우를 보장하고 면제된 구매를 통해 회사 주식의 20% 이상을 축적하는 '조용한 입찰'에 대한 보호를 목표로 하고 있습니다.
계획에 따라, 보통주 1주당 1개의 권리가 발행됩니다. 권리가 행사 가능해질 경우, 보유자(인수자 및 관련 당사자는 제외)는 현재 시장 가격의 50% 할인된 가격으로 추가 회사 주식을 구매할 수 있습니다. 권리 계획은 발효일로부터 6개월 이내에 주주 승인을 요구하며, 토론토 증권 거래소로부터 조건부 승인을 받았습니다.
Avalon Advanced Materials (TSX: AVL, OTCQB: AVLNF) a annoncé l'adoption d'un plan de droits des actionnaires prenant effet le 8 avril 2025. Le plan, approuvé par le Conseil d'Administration, vise à garantir un traitement équitable des actionnaires lors d'offres d'achat non sollicitées et à protéger contre les 'offres rampantes' qui impliquent l'accumulation de plus de 20% des actions de la société par le biais d'achats exonérés.
Selon le plan, un droit sera émis par action ordinaire. Si les droits deviennent exerçables, les détenteurs (à l'exception de la personne acquéreuse et des parties liées) pourront acheter des actions supplémentaires de la société à un rabais de 50% par rapport au prix du marché actuel. Le Plan de Droits nécessite la ratification des actionnaires dans les six mois suivant sa date d'entrée en vigueur et a reçu une approbation conditionnelle de la Bourse de Toronto.
Avalon Advanced Materials (TSX: AVL, OTCQB: AVLNF) hat die Einführung eines Aktionärsrechteplans bekannt gegeben, der am 8. April 2025 in Kraft tritt. Der Plan, der vom Vorstand genehmigt wurde, zielt darauf ab, eine faire Behandlung der Aktionäre während unaufgeforderter Übernahmeangebote sicherzustellen und gegen 'schleichende Angebote' zu schützen, die den Erwerb von mehr als 20% der Unternehmensanteile durch befreite Käufe beinhalten.
Im Rahmen des Plans wird pro Stammaktie ein Recht ausgegeben. Wenn die Rechte ausgeübt werden können, können die Inhaber (mit Ausnahme der erwerbenden Person und verwandter Parteien) zusätzliche Unternehmensanteile mit einem Rabatt von 50% auf den aktuellen Marktpreis erwerben. Der Rechteplan erfordert die Genehmigung der Aktionäre innerhalb von sechs Monaten nach seinem Inkrafttreten und hat eine bedingte Genehmigung von der Toronto Stock Exchange erhalten.
- Implementation of protective measures against hostile takeovers
- 50% discount opportunity for existing shareholders to purchase additional shares
- Conditional approval received from Toronto Stock Exchange
- Plan requires shareholder approval within 6 months to remain effective
- Potential dilution risk if rights are exercised
Toronto, Ontario--(Newsfile Corp. - April 9, 2025) - Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) ("Avalon" or the "Company") announces that its Board of Directors (the "Board") has approved the adoption of a shareholder rights plan (the "Rights Plan") effective as of April 8, 2025, pursuant to a shareholder rights plan agreement entered into with TSX Trust Company, as rights agent under the Rights Plan.
The purpose of the Rights Plan is to ensure, to the extent possible, that all shareholders of the Company are treated fairly in connection with any unsolicited take-over bid and to protect against "creeping bids," which involve the accumulation of more than
The Rights Plan is like other recently adopted plans by other Canadian companies and approved by their shareholders. It has not been implemented in response to any specific proposal or intention to acquire control of the Company.
Pursuant to the Rights Plan, one right will be issued in respect of each common share of the Company. Subject to the terms of the Rights Plan, in the event that rights become exercisable under the Rights Plan, holders of the rights (other than the acquiring person and its related parties) will be permitted to exercise their rights to purchase additional common shares of the Company at a
The Rights Plan has been conditionally approved by the Toronto Stock Exchange and is subject to ratification by the shareholders of the Company within six months of its effective date. The Company will be seeking shareholder ratification of the Rights Plan on a to be determined date. A complete copy of the Rights Plan will be available on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile. If the Rights Plan is not approved by the shareholders within six months of its adoption, the plan, together with the outstanding rights, will terminate and cease to be effective.
About Avalon Advanced Materials Inc.
Avalon Advanced Materials Inc. is a Canadian Critical Minerals company focused on vertically integrating the Ontario lithium supply chain. The Company, through its joint venture with SCR-Sibelco NV, is currently advancing its Separation Rapids lithium Project near Kenora, ON, and continuing exploration at its Snowbank lithium and Lilypad lithium-caesium deposits. Avalon is also working to develop its Nechalacho rare earths and zirconium project located in the Northwest Territories. This deposit contains critical minerals for use in advanced technologies in the communications and defense industries among other sectors. In addition to these upstream activities, Avalon is executing on a key initiative to develop Ontario's first midstream lithium hydroxide processing facility in Thunder Bay, ON, a vital link bridging the lithium resources of the north with the downstream EV battery manufacturing base in the south.
For further information regarding Avalon Advanced Materials Inc., please visit www.avalonadvancedmaterials.com or contact:
Investor Relations
Ms. Rachel Naji
ir@avalonam.com
416-364-4938
Cautionary Statement Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to statements that the Company will be seeking shareholder approval of the Rights Plan. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "add" or "additional", "advancing", "anticipates" or "does not anticipate", "appears", "believes", "can be", "conceptual", "confidence", "continue", "convert" or "conversion", "deliver", "demonstrating", "estimates", "encouraging", "expand" or "expanding" or "expansion", "expect" or "expectations", "forecasts", "forward", "goal", "improves", "increase", "intends", "justification", "plans", "potential" or "potentially", "promise", "prospective", "prioritize", "reflects", "robust", "scheduled", "suggesting", "support", "top-tier", "updating", "upside", "will be" or "will consider", "work towards", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved".
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks associated with mineral exploration and development operations such as: environmental hazards and economic factors as they affect the cost and success of the Company's capital expenditures, the ability of the Company to obtain required permits and approvals, the ability of the Company to obtain financing, uncertainty in the estimation of mineral resources, uncertainty with respect to the ability to successfully construct and develop the Company's lithium processing facility, the price of lithium, no operating history, no operating revenue and negative cash flow, land title risk, the market price of the Company's securities, the economic feasibility of the Company's mineral resources and the Company's commercial viability, inflation and uncertain global economic conditions, uncertain geo-political shifts and risks, successful collaboration with indigenous communities, changes in technology and advancements in innovation may impact the development of the Company's technology innovation centre and its lithium hydroxide processing facility, future pandemics and other health crises, dependence on management and other highly skilled personnel, title to the Company's mineral properties, the ongoing war in Ukraine and Israel, extensive government and environmental regulation, reliance on artificial intelligence technology to influence mining operations, volatility in the financial markets, uninsured risks, climate change, threat of legal proceedings, as well as those risk factors discussed or referred to in the annual information form of the Company dated November 28, 2024 (the "AIF") under the heading "Description of the Business - Risk Factors". Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Although the Company believes that the assumptions and expectations reflected in such forward-looking information are reasonable, undue reliance should not be placed on forward-looking information because the Company can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions identified in the AIF, assumptions have been made regarding, among other things: management of certain of the Company's assets by other companies or joint venture partners, the Company's ability to carry on its exploration and development activities without undue delays or unbudgeted costs, the ability of the Company to obtain sufficient qualified personnel, equipment and services in a timely and cost effective manner, the ability of the Company to operate in a safe, efficient and effective manner, the ability of the Company to obtain all necessary financing on acceptable terms and when needed, the accuracy of the Company's resource estimates and geological, operational and price assumptions on which these are based and the continuance of the regulatory framework regarding environmental manners. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions that may have been used. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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FAQ
What is the purpose of Avalon Advanced Materials' (AVLNF) new shareholder rights plan?
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